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Oct 1, 2012
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for its past 30 years we've been shifting from a w-2 economy to a 1099 economy. in other words, more and more companies are using contract workers and consultants to get things done. and that represents a huge opportunity for people with experience and expertise. and best of all, you don't have to ask anyone's permission to get started. you know, it's true that self-employment can be difficult. it involves more risk, and it can take awhile to get invested-- established. but it also offers incredible rewards like higher hourly rates and complete independence. and with social media revolutionizing the field of personal branding, it's never been easier to position yourself as an expert in your industry. and that adds up to a great way to get your life back on track while helping our sluggish economy at the same time. i'm patrick-- . >> tom: that is nightly business report here that's nightly business report for monday, october 1. have a great evening everyone, and you too tom. >> tom: goodnight susie, we'll see you online at: www.nbr.com and back here tomorrow night
for its past 30 years we've been shifting from a w-2 economy to a 1099 economy. in other words, more and more companies are using contract workers and consultants to get things done. and that represents a huge opportunity for people with experience and expertise. and best of all, you don't have to ask anyone's permission to get started. you know, it's true that self-employment can be difficult. it involves more risk, and it can take awhile to get invested-- established. but it also offers...
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Oct 2, 2012
10/12
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>> the economy has to get better. we've had this in the summer for the past two or three years in a row, and every economy rebounds. if we're going to have a rebound in the holiday season, that could be great and help to put people back to work, and allow them to spend a little bit more freely. we also have a long holiday season. november starts out on a thursday, which means thanksgiving comes early as it can come, and the most space between thanksgiving and christmas to get the spending n. >> susie: a few more shopping days in there. thanks, bob. nice to talk to you. robert brusca, chief economist. >> tom: in europe, spain's >> tom: in europe, spain's prime minister dashed hopes the country will ask for a bailout soon. that request would help trigger the european central bank's latest bond-buying program, seen by investors as helpful for the markets. here in the u.s., the dow lost almost 33, the nasdaq gained 6.5, and not much change for the s&p; it's up about a point. >> reporter: i'm darren gersh. still ahead, bot
>> the economy has to get better. we've had this in the summer for the past two or three years in a row, and every economy rebounds. if we're going to have a rebound in the holiday season, that could be great and help to put people back to work, and allow them to spend a little bit more freely. we also have a long holiday season. november starts out on a thursday, which means thanksgiving comes early as it can come, and the most space between thanksgiving and christmas to get the spending...
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Oct 4, 2012
10/12
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in spite of the weak economy, there are many firms that cannot fill positions. erika miller went to one soho building where firms gripe they can't hire as fast as they want. >> i've been working here for 221 hours. >> reporter: keith blanchard is one of the newest hires at thrillist, a media company targeting young, hip, urban men. three million subscribers get a daily email with recommended places to eat, drink, and have fun. >> i'm here because this is just a fantastic place, full of smart people, really motivated and just moving the needle on what the future can be. >> reporter: the soho-based firm was co-founded seven years ago by ben lerer. the firm nearly doubled in size this year to 215 employees and counting. there are openings for engineers, social media gurus, merchandisers, salespeople.. videographers, and more. so why, in this weak job market, are there so many open positions? >> there are plenty of people with the right experience, but we have a very specific sort of work hard/play hard culture here that is really right for some people and really no
in spite of the weak economy, there are many firms that cannot fill positions. erika miller went to one soho building where firms gripe they can't hire as fast as they want. >> i've been working here for 221 hours. >> reporter: keith blanchard is one of the newest hires at thrillist, a media company targeting young, hip, urban men. three million subscribers get a daily email with recommended places to eat, drink, and have fun. >> i'm here because this is just a fantastic...
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Oct 3, 2012
10/12
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and what i can tell you is our experience is we have strangled our economy. so our debt is going up, when your economy shrinks by definition your debt to gdp ratio, your debt to national income ratio goes up instead of down. >> when we come to the euro zone before i leave it, it will survive intact? >> i think it will, yes. the bad news is, it is going to muddle along, not come soaring forward. >> and to cam forward, soaring forward it has to do what? >> it has to two do two things it has to mutualize debt so the confidence we have talked about earlier. >> mutualized debt means everybody -- >> there is joint and several liability for debt in the currency zone and the truth is, greece is two percent of the euro zone economy. >> right. >> and it should never have been allowed to become a threat to the global economy, and it has become a threat to the global economy, because it is not clear the other countries of the euro -- >> paying back part of greek's debt. >> yes the short answer there is no escape from sharing the burden -- >> you are a politician in germa
and what i can tell you is our experience is we have strangled our economy. so our debt is going up, when your economy shrinks by definition your debt to gdp ratio, your debt to national income ratio goes up instead of down. >> when we come to the euro zone before i leave it, it will survive intact? >> i think it will, yes. the bad news is, it is going to muddle along, not come soaring forward. >> and to cam forward, soaring forward it has to do what? >> it has to two do...
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Sep 28, 2012
09/12
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being such a creative economy. for example, energy prices have fallen a lot. and there are some other things you can count to on the upside. but so far businesses have been very reluctant to invest heavily, very reluctant to hire heavily. >> muhamed el-erian what do you see-- when you look at all this data coming in, what is most important to you? >> a few things. first the employment picture. and not just whether we're creating jobs or not. that's important. but also what's happening to those who remain unemployed. and that is a pretty worsening picture. that's why i call 2 a crisis. because long-term unemployment is really high. and youth unemployment is really high. and these are longer-term issues that we need to deal with. so the employment picture is very important. second, clarity for businesses. today no one has the confidence to invest. there is a ton of money, judy, on the sideline, a ton of money. and if we can engage that money in the system would be great. and third as ken rightly said, the global economy. we are facing he is vore headwinds. so a
being such a creative economy. for example, energy prices have fallen a lot. and there are some other things you can count to on the upside. but so far businesses have been very reluctant to invest heavily, very reluctant to hire heavily. >> muhamed el-erian what do you see-- when you look at all this data coming in, what is most important to you? >> a few things. first the employment picture. and not just whether we're creating jobs or not. that's important. but also what's...
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Oct 1, 2012
10/12
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there's growing evidence that international sanctions over tehran's nuclear program are damaging the economy. now to the presidential race here in the u.s. and both mitt romney and barack obama are busy swatting up and rehearsing for the first television debate this wednesday. polls show the republican candidate is trailing president obama in the crucial swing states. one of them is of course ohio where early voting gets under way tomorrow. from there our north america editor reports. >> ♪ the boys are back in town ♪ >> the boys are indeed back in town yet again. they call this the buckeye state for the men who are fighting for the white house it's a state to suck up to, whether it's buying the local produce. >> i'm thinking we are going to be eating some corn over the weekend. >> or urging minors to phone a friend. >> want you to find one person to convince to vote for our ticket. >> both candidates are well aware in the last election in the last 44 years ohio has voted for the winning candidate so the politicians woo voters. >> we can create one million new manufacturing jobs in the ne
there's growing evidence that international sanctions over tehran's nuclear program are damaging the economy. now to the presidential race here in the u.s. and both mitt romney and barack obama are busy swatting up and rehearsing for the first television debate this wednesday. polls show the republican candidate is trailing president obama in the crucial swing states. one of them is of course ohio where early voting gets under way tomorrow. from there our north america editor reports. >>...
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Sep 29, 2012
09/12
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CNN
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we live in a global economy. we can't change that. the best thing we can do to bring middle class america back is have economic growth. we won't have that until we have some kind of political leadership. i'm particularly talking about congress to set tax policies and get us out of this constant deficit. >> that's a very good point, why we brought up the fiscal cliff, quite frankly, you're seeing these little signs of life in the housing market, this fiscal cliff comes from elected officials. >>> don't go away, we will talk about the middle class itself and why your trip to the mall this weekend may be subsidizing your own demise. st plug is into, and your good driving can save you up to 30%. you could even try it without switching your insurance. why not give it a shot? carry on. now you can test-drive snapshot before you switch. visit progressive.com today. and the family car to do an experiment. we put a week of her family's smelly stuff all in at once to prove that febreze car vent clips could eliminate the odor. then we brought he
we live in a global economy. we can't change that. the best thing we can do to bring middle class america back is have economic growth. we won't have that until we have some kind of political leadership. i'm particularly talking about congress to set tax policies and get us out of this constant deficit. >> that's a very good point, why we brought up the fiscal cliff, quite frankly, you're seeing these little signs of life in the housing market, this fiscal cliff comes from elected...
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Oct 1, 2012
10/12
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the cost general economies 77 scale and learning. called the learning curve and this is really the foundation of supply side economics. why when you cut taxes, which are just like a price, you reduce costs across the economy and allow the united states to expand the global share of the ever markets or enterprise and wealthy. that's why supply side economics works. it's not merely by balancing the budget or overcoming debt or one of these accounting gem micks that are often treated as conservative economics. it's opening the horizon to the economy to human creativity. and human creativity always comings as a surprise to us. you can't plan it. if you get k plan it, you wouldn't need it. >> can p mitt romney use the phrase politically supply side economics. i think he could if he says that he's reviving the reagan administration. the book was quoted more by -- president reagan most quoted author. he quotedded the book regularly throughout the administration. and reagan didn't balance the budget. he had actually during the reagan adminis
the cost general economies 77 scale and learning. called the learning curve and this is really the foundation of supply side economics. why when you cut taxes, which are just like a price, you reduce costs across the economy and allow the united states to expand the global share of the ever markets or enterprise and wealthy. that's why supply side economics works. it's not merely by balancing the budget or overcoming debt or one of these accounting gem micks that are often treated as...
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and it and it's going up because the economy is going down the economy is what provides the government with its income and if the economy is shrinking the income of the government shrinks of the same type and therefore the deficit rises and something like that has been going on so the policy can't even succeed in its own terms one of your colleagues an economist called james keane has suggested a scheme that he calls quantities if easing for the public saying that the debt that private individuals have needs to be reduced under the scheme he says that cash should be issued to individuals and those with debt would have to use it to pay that debt down and those without it would have a cas injection and it sounds like a great scheme and do you think it would work but well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives a boost to the economy because they could even increase their spending and therefore
and it and it's going up because the economy is going down the economy is what provides the government with its income and if the economy is shrinking the income of the government shrinks of the same type and therefore the deficit rises and something like that has been going on so the policy can't even succeed in its own terms one of your colleagues an economist called james keane has suggested a scheme that he calls quantities if easing for the public saying that the debt that private...
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Sep 30, 2012
09/12
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economy by not making a decision. american business is very good at makes money if they tell you the rules of the game. it is like you are playing the first half of the game but you don't know the rules the second half. what does everybody do? they wait and see. getting past that, a plan to bring the deficit down gradually and knowing the taxes over the next decade would be positive for the u.s. economy. i wish we could get there. >> i couldn't agree more. is infuruating. let's talk about residual damage. government defense contractors will have to lay off workers soon if there is no agreement because they are losing federal dollars of the federal programs that are going away. we will see more unemployment. the defense companies will have to notify workers in the next couple of weeks. how important is this? >> it is a tempory drag in t the economy. i honestly think of l of the things that will not happen is the chance of getting both unds of spending cuts, including the massive defense cuts is slight. i think it will
economy by not making a decision. american business is very good at makes money if they tell you the rules of the game. it is like you are playing the first half of the game but you don't know the rules the second half. what does everybody do? they wait and see. getting past that, a plan to bring the deficit down gradually and knowing the taxes over the next decade would be positive for the u.s. economy. i wish we could get there. >> i couldn't agree more. is infuruating. let's talk about...
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and why you think it's not working well i don't think they're doing very much to mend the economy i think their policies of made things worse the sad fact is that the british economy has been shrinking slowly almost for a year now rather like a very slowly leaking balloon and the government of been trying in one or two small ways to give it a bit of a stimulus but i think they're quite new initiatives and it's too early to say how much effect they'll have but in general i don't think they will have very much effect and so i don't think at the moment they're doing anything very much to help because there's an awful lot of talk about prioritizing the economy and it's the main thing that we have to work on but then on the same time you say that not very much is being done at all one thing is that they're blaming everyone but themselves first of all it was it was the euro crisis then it was the high high commodity rise in commodity prices and so they claim that the policy of a stereo should bring about the recovery but that it's been derailed by these unfortunate acts shocks but the pol
and why you think it's not working well i don't think they're doing very much to mend the economy i think their policies of made things worse the sad fact is that the british economy has been shrinking slowly almost for a year now rather like a very slowly leaking balloon and the government of been trying in one or two small ways to give it a bit of a stimulus but i think they're quite new initiatives and it's too early to say how much effect they'll have but in general i don't think they will...
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with twenty five percent unemployment there's this huge you know black market economy underground economy that has to get pulled back up as well they've got to be paying taxes so there's got to be you know reformed and whether you want to call it a stereo or not i think someone's got to go through and try and change the system which unfortunately is almost politically impossible right because it's so hard to get the votes to do that so i think we keep this limber lumbering around and you've got the banks at one side demanding their bailouts the people demanding their bailouts and at some point it's all going to give the actually less we are going to get is i can say with you and i think it's really interesting is that you know the people on the ground unemployed people see all the banks bailed out the financial sector bailed out politicians protected i mean i know it's very popular but people say now how about me but bail me out and i know i know that's nonsensical on many ways but i can understand how people feel that way. yeah and again i think that's why at least in spain they've got t
with twenty five percent unemployment there's this huge you know black market economy underground economy that has to get pulled back up as well they've got to be paying taxes so there's got to be you know reformed and whether you want to call it a stereo or not i think someone's got to go through and try and change the system which unfortunately is almost politically impossible right because it's so hard to get the votes to do that so i think we keep this limber lumbering around and you've got...
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economy already fallen into another recession. with more on this, american enterprise institute scholar and former u.s. treasury consultants. welcome to the show. great to have you here. ben bernanke speaking today -- >> very good to be here. >> thank you. gerri: the federal reserve chairman speaking today and said we are not in a recession. it is not likely we will be in recession. very optimistic. very beat. are you? >> no. i think we are probably losing momentum if we are not in a recession we are close to. the big problem is at the end of the year if we have not done something about the fiscal cliff we are going to be in recession very definitely. the rest of the world is slowing down as well. so certainlthe momentum is not good. whether the growth nber for the fourth quarter is a half a percent or three-quartersof% or zero it will feel pretty much the same. we will be close enough to recession to put some real pressure on the lame-duck congress to do something about that fiscal clef. gerri: motors recent in a poll, 60 percent
economy already fallen into another recession. with more on this, american enterprise institute scholar and former u.s. treasury consultants. welcome to the show. great to have you here. ben bernanke speaking today -- >> very good to be here. >> thank you. gerri: the federal reserve chairman speaking today and said we are not in a recession. it is not likely we will be in recession. very optimistic. very beat. are you? >> no. i think we are probably losing momentum if we are...
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Sep 30, 2012
09/12
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that's deadly for the economy. getting past that, a plan to bring the deficit down gradually, knowing what taxes are going to be over the next decade would be tremendously positive for the u.s. economy. i wish we'd get there sooner rather than later. >> i cannot agree more. it is infuriating. let's talk about residual damage. government defense contractors will have to lay off workers soon if there's no agreement. you know, because they are losing those federal dollars of those federal programs that are going away, we're going to see more unemployment. the defense company will have to notify workers in the next couple of weeks. how important is this? >> well, it is a temporary drag on the economy. i honestly think of all the things that will not happen, starting january 1st, that the chances that we're going to get both rounds of spending cuts agree to last august, including massive defense cuts, i think is pretty slight. i think it will be rectified the next few months. it's terrible we have to put these businesse
that's deadly for the economy. getting past that, a plan to bring the deficit down gradually, knowing what taxes are going to be over the next decade would be tremendously positive for the u.s. economy. i wish we'd get there sooner rather than later. >> i cannot agree more. it is infuriating. let's talk about residual damage. government defense contractors will have to lay off workers soon if there's no agreement. you know, because they are losing those federal dollars of those federal...
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Oct 3, 2012
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the economy is expected to shrink by 3.3% and unemployment is at 15.9%. trading in frankfurt was quiet as a result of the public holiday. our correspondence sent us this report from the frankfurt stock exchange. >> the traders, like traders anywhere, are always looking for direction, always looking for something to point them in the right direction but they did not find it this day. there was mixed news from the eurozone, greece still in trouble and portugal with much -- a much better situation, testing its viability in the financial market. the dax going up and down as a result. factoring in economic news from the united states, which was also mixed. some good, some bacteria and waiting for spain to make a decision on whether it would take help from the european bailout fund. it hopes to get an explanation, perhaps, from mario draghi, the president of the ecb after the central bank will have met. >> let's take a closer look at some of the market members. teh dax close the day almost a quarter percent up. the euro stoxx 50 close to just a tad down at 2492
the economy is expected to shrink by 3.3% and unemployment is at 15.9%. trading in frankfurt was quiet as a result of the public holiday. our correspondence sent us this report from the frankfurt stock exchange. >> the traders, like traders anywhere, are always looking for direction, always looking for something to point them in the right direction but they did not find it this day. there was mixed news from the eurozone, greece still in trouble and portugal with much -- a much better...
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Oct 6, 2012
10/12
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our economy doesn't grow from the top down. it grows from the middle out. we don't -- we don't believe that anybody's entitled to success in this country. but we do believe in opportunity. we believe in a country where hard work pays off. and responsibility is rewarded. and everybody's getting a fair shot. and everybody's doing their fair share. and everybody's playing by the same rules. believehe country we in. that's what we've been fighting for for the last four years. that's what we are going to put in place in the next four years if you re-elect me as president of the united states of america. that's what we're going to do. [cheers and applause] >> four more years! four more years! four more years! four more years! four more years! four more years! four more years! >> now, today i want to also talk about economic issues that didn't get enough attention in the debate the other night. and that's economic issues that have a direct impact on women and as a consequence, have a direct impact on families. when it comes to the economy, it's bad enough that our
our economy doesn't grow from the top down. it grows from the middle out. we don't -- we don't believe that anybody's entitled to success in this country. but we do believe in opportunity. we believe in a country where hard work pays off. and responsibility is rewarded. and everybody's getting a fair shot. and everybody's doing their fair share. and everybody's playing by the same rules. believehe country we in. that's what we've been fighting for for the last four years. that's what we are...
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is a fifteen trillion dollar economy so one point six trillion dollars is about ten percent of that ok and so now you're saying that a deficit spending is essentially a tax who does this tax fall most most heavily on in the population even if those evenly on everybody and everyone and that's the problem with that there is no progress it would be to it it is a flat tax for all intents and purposes on every dollar of production because each dollar of credit in currency is devalued and so you need more of them and your salary and your you know your other income typically doesn't go up so there is some ability to read they do this of course the stock market is going up dramatically of the last four years but for the ordinary person who's out there trying to earn a wage it's an entirely different situation because their salary isn't going up at all and yet the cost of things like gasoline and heating oil is going to dramatically i mean so we have much talk right now about various taxes we have both candidates talking about their tax policies we have the fiscal cliff with the possible exp
is a fifteen trillion dollar economy so one point six trillion dollars is about ten percent of that ok and so now you're saying that a deficit spending is essentially a tax who does this tax fall most most heavily on in the population even if those evenly on everybody and everyone and that's the problem with that there is no progress it would be to it it is a flat tax for all intents and purposes on every dollar of production because each dollar of credit in currency is devalued and so you need...
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global economy. to. play. welcome back to crossfire and people will remind you we're talking about the politics of austerity. and now we're joined by our garland in st louis he's a strategic trend analyst and author of future incorporated how businesses can in tissue paper and profit from what's next all right eric thank you for joining us from st louis what about the politics of austerity because it seems to me it's turned into an ideology it's a new religion as i said in the first part of the program no one really cares if the patient if i can use that medical term survives this ideology this methodology go ahead. it's funny you know that whole term austerity is not one i like very much because it has all these punitive connotations as opposed to what it really means which is that we need fiscal policies that make sense and by making sense you can't spend more than you take in for very long everybody with common sense knows this and all we're saying is that our current systems that are very large and more co
global economy. to. play. welcome back to crossfire and people will remind you we're talking about the politics of austerity. and now we're joined by our garland in st louis he's a strategic trend analyst and author of future incorporated how businesses can in tissue paper and profit from what's next all right eric thank you for joining us from st louis what about the politics of austerity because it seems to me it's turned into an ideology it's a new religion as i said in the first part of the...
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you shouldn't be investing in the real economy because there's not going to be demand in the future so we need to have an economy which is reorganized towards the goal of real investment in production and governments can take the lead in that process both directly through spending but also in terms of tax policy and the signals at their son to the private sector in terms of investment you're critical office tower it's a naturist introduced in latvia but still christine lagarde has recently said let's be easy inspiration for european leaders grappling with the euro crisis how do you respond to that well christine legarde and the i.m.f. generally and the pundits who have been supporting austerity as the proper solution for what ails the world's economies have been desperately seeking a success story and they think they have finally found one in latvia so we have all of these failures and there are some aspects of the latvian austerity story that one could read as a success we do have a return to economic growth after seeing this really huge collapse which occurred in two thousand and eig
you shouldn't be investing in the real economy because there's not going to be demand in the future so we need to have an economy which is reorganized towards the goal of real investment in production and governments can take the lead in that process both directly through spending but also in terms of tax policy and the signals at their son to the private sector in terms of investment you're critical office tower it's a naturist introduced in latvia but still christine lagarde has recently said...
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has warned that further quantitative easing will fail to prepare economies in europe and the u.s. well why i am a federal reserve bank which is the lender of last resort responsible for taking the punch bowl away when the party gets to rot is not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk bond that these investment banks that used to destroy the economy they'll take in their buyer and very garbage bond out there just want to be the buyer of first resort just went through the london of last resort think completely screwed this thing up they got it all backwards and paul volcker of course back in the seventy's early eighty's he took interest rates up to sixteen percent to squeeze out these these these no good mix well to cover out all of this fraud max remember at the beginning of this crisis we were told it's a liquidity crisis it's a little quickly the crisis if we only had more cash in the system all would be fine right well he said there is so much liquidity in the market the adding more is not goin
has warned that further quantitative easing will fail to prepare economies in europe and the u.s. well why i am a federal reserve bank which is the lender of last resort responsible for taking the punch bowl away when the party gets to rot is not do their job instead of being the lender of last resort there's a buyer a first resort they buy every schlock piece of junk bond that these investment banks that used to destroy the economy they'll take in their buyer and very garbage bond out there...
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Sep 30, 2012
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economy that can't get its footing. consumers are feeling more upbeat and an improvement in housing probably has a lot to do with that. we just talked about the threat of the fiscal cliff, the u.s. centered storm, but we cannot ignore the head winds coming from europe. joining me now to debate this topic is host of "quest heemean business" on cnn international. richard, the question is will europe derail a u.s. recovery? give me 60 seconds on the clock starting right now. richard, the answer is categorically, absolutely yes. the storm hanging over europe just won't go away, and each day that it stays there is another day that europeans who have been among the biggest and best consumers of u.s.-produced goods and services are buying fewer and fewer of them despite two years of bad governance and poor decision making in europe, americans are sortly weirdly feeling better about their own economy. richard, evidenced by this week's consumer spending and housing numbers, but cheap money and low home prices are driving the ame
economy that can't get its footing. consumers are feeling more upbeat and an improvement in housing probably has a lot to do with that. we just talked about the threat of the fiscal cliff, the u.s. centered storm, but we cannot ignore the head winds coming from europe. joining me now to debate this topic is host of "quest heemean business" on cnn international. richard, the question is will europe derail a u.s. recovery? give me 60 seconds on the clock starting right now. richard, the...
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Oct 6, 2012
10/12
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KQED
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the bubble was a distorted economy. so i think yes, we might feel more relaxed that we've hit bottom. still not clear because there's a massive number of foreclosures down the line. still about 20% of all americans are underwater. >> rose: was that one of the failures of the obama administration not to deal with the housing crisis as part of the financial collapse. >> very much so but you have to remember he inherited the problem. bush hadn't even talked about it. obama said let's do something. but then what they proposed was simply inadequate. >> rose: was it because they focused on the financial sector at the exclusion of the housing issue? >> basically, basically. part of it was they were worried at the time that the kinds of things you needed to do. restructure the mortgage, write down the mortgages, would weaken the banking system. and they were more focused on helping the bankers than homeowners. you know, ode citizens. and i think that was a big mistake. >> rose: when you look at 2008 and the decisions made first
the bubble was a distorted economy. so i think yes, we might feel more relaxed that we've hit bottom. still not clear because there's a massive number of foreclosures down the line. still about 20% of all americans are underwater. >> rose: was that one of the failures of the obama administration not to deal with the housing crisis as part of the financial collapse. >> very much so but you have to remember he inherited the problem. bush hadn't even talked about it. obama said let's...
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Oct 2, 2012
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economy forecast growth next year is 2%, 2% minus 2% equals zero. you are pretty much at the recession stage. bo pelley: there are about 12.5 million americans who lost their jobs in the great recession. we have seen our economy in cecession or stumbling along since late 2007. and a lot of americans just want to know when does this end. >> well, i would say that there is good news lurking out there. and in particular the fact that he housing market is picking up is, in our view, a clear sign tiat the situation is improving. when you see that the financial institutions have been clearly strengthened, restructured and made a little bit safer and that ste housing market is picking up. that's not bad. >> pelley: not bad, but next week the i.m.f. is expected to theunce that it's lowering its forecast for world growth to 3% this year. two days before the first presidential debate a new poll irsthe "washington post" finds pe race still very tight nationwide with president obama leading mitt romney by two rints, 49% to 47%. but in two of the biggest swing t
economy forecast growth next year is 2%, 2% minus 2% equals zero. you are pretty much at the recession stage. bo pelley: there are about 12.5 million americans who lost their jobs in the great recession. we have seen our economy in cecession or stumbling along since late 2007. and a lot of americans just want to know when does this end. >> well, i would say that there is good news lurking out there. and in particular the fact that he housing market is picking up is, in our view, a clear...
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Sep 29, 2012
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and take the economy down for good. are they right? hi, everyone, i'm brenda buttner, this is bulls and bears, here are the bulls and bears, gary b smith, tobin smith. jonas max ferris. and welcome everybody. gary b, is economic patriotism exactly what the economy needs? >> well, not this version of economic patriotism. you know, i think this plan is going to do a lot more harm than good, brenda, especially to the country's bottom line. look, i went through the plan, obama's plan. i went through his tv commercial, three things jumped out that just didn't make any sense, one, he wants to-- one, he wants to cut tax breaks or companies that outsource. when companies outsource the net effect is to create more jobs that were here. people were able to buy goods cheaper because companies are able to make the goods cheaper and buy goods cheaper and spend more money in other sectors, two the other they think he wants to do, he wanted to invest in education and training programs. that's all well and good, brenda and we know that's going to cost
and take the economy down for good. are they right? hi, everyone, i'm brenda buttner, this is bulls and bears, here are the bulls and bears, gary b smith, tobin smith. jonas max ferris. and welcome everybody. gary b, is economic patriotism exactly what the economy needs? >> well, not this version of economic patriotism. you know, i think this plan is going to do a lot more harm than good, brenda, especially to the country's bottom line. look, i went through the plan, obama's plan. i went...
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of the economy is running at full capacity and. russia has basically you know the several fives we're looking at about five percent inflation we're looking about five percent unemployment that we were looking at five percent growth maybe four percent growth now plus a budget surplus or at least no deficit russia is extremely undead it has the best macros of any country almost any country in the world right now maybe except for norway think that's because you know and you know we're all old hands you think that's because of the one nine hundred ninety s. because of the governor because of it was there's the despair i don't you miserable experience the the meltdown and all that it left them extremely fearful of becoming in that the way the germans are scared of inflation the russians are now scared to death so they've been hyper conservative also because we have a political system which is that of a work in process the government has not had to buy support from the populace until now so they have been able to limit their spending whe
of the economy is running at full capacity and. russia has basically you know the several fives we're looking at about five percent inflation we're looking about five percent unemployment that we were looking at five percent growth maybe four percent growth now plus a budget surplus or at least no deficit russia is extremely undead it has the best macros of any country almost any country in the world right now maybe except for norway think that's because you know and you know we're all old...
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Sep 28, 2012
09/12
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and that also has to do with the economy. if the economy is doing well, there's more money sloshing around, you're going to see more speculation and you're going to see more business. >> reporter: are any elements of the election being priced into corn at this moment, or is this all drought and supply and demand driven? >> we are in harvest mode right now, so we're just really more concerned with what the bushel counter is saying in the combine than what legislator is saying on the stump. so right now, we're just trading harvest and what we think, and ultimately what we think the crop will be when we pull it out of the ground. >> reporter: scott, thanks so much. >> all right. thank you. >> tom: tomorrow, "politics in the pits" continues from chicago's livestock trading pits-- presidential politics, cattle, and pork bellies. the securities and exchange commission is taking a closer look this fall at the systems and computer programs brokerage firms use to place orders. the move comes after the big trading trouble at knight cap
and that also has to do with the economy. if the economy is doing well, there's more money sloshing around, you're going to see more speculation and you're going to see more business. >> reporter: are any elements of the election being priced into corn at this moment, or is this all drought and supply and demand driven? >> we are in harvest mode right now, so we're just really more concerned with what the bushel counter is saying in the combine than what legislator is saying on the...
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find out what's really happening to the global economy with mike's cars or for a no holds barred look at the global financial headlines tune in to kaiser report. is eve. eve. six. really. thanks. my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit to me. for my hands you know just as if anyone would. but they do tell a story they tell a story of. the oxen. to be soon which brightened. about someone from finest impression. whose friends don't totty don't come. to. the hartland is the town of illusion fifty kilometers north of london. an old working class town now plagued by on employment in two thousand to in the car industry i learned some thirty thousand workers were laid off. its two hundred twenty thousand residents including a large number of muslims so the five thousand of them live in a neighborhood around the league reve road where
find out what's really happening to the global economy with mike's cars or for a no holds barred look at the global financial headlines tune in to kaiser report. is eve. eve. six. really. thanks. my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit...